Oct exports up 26%

THE Philippines’ export earnings in October rose 26.4% to $4.739 billion from $3.748 billion in the same month last year.

But month-on-month, exports declined 11% from $5.325 billion.

For the first ten months of the year, shipments soared 37.1% to $43.047 billion from $31.397 billion in the same period last year.

Accounting for 63% of the October total, electronic products were once again the country’s top export commodity with receipts reaching $2.987 billion from $2.162 billion in October 2009.

Articles of apparel and clothing accessories followed with earnings of $145.13 million or 3.1% of total revenues.

Coconut oil accounted for 3% of the aggregate or $140.48 million, up 81.8% from $77.29 million in October 2009.

Buying 18.2% of the country’s exports in October was Singapore. The island state was the country’s top export destination with receipts amounting to $860.59 million, soaring 298.1% from the year-ago figure of $216.20 million.

Japan was the country’s second top export market, buying $762.39 million or 16.1% of the total.